Financial institutions (discontinued), Q1 2010

The banks reduced their lending by 1.4 per cent to NOK 2 345 billion during the first quarter. One reason for the decline is the transfer of loans from banks to mortgage companies and the establishment of new mortgage companies, as well as factors related to regulations concerning bonds with priority and the government’s actions aimed at the financial crisis.

The finance and mortgage companies lending to the public (municipalities, non-financial corporations and households) increased by 37.1 per cent to NOK 1 034 billion in the last 12 months.

Increased interest margin

The difference between the banks' average interest rates on loans and the average deposit rates; the interest rate margin, increased by 0.13 percentage points to 2.46 per cent in the last 12 months. From the last quarter, the interest rate margin increased by 0.07 percentage points.

Increased stock of securities

Investments in securities increased by 24.4 per cent to NOK 1 909 billion during the first quarter of 2010 compared to last year. The value of investments in equities, units and primary capital certificates increased by 34.4 per cent, while investments in bonds increased by 13.1 per cent compared to the first quarter last year. Bonds still have the largest share of the stock of securities by 63.4 per cent, while equities, units and primary capital certificates account for 25.4 per cent.

Increase in total assets

Total assets for all financial institutions increased by 2.7 per cent to NOK 6 700 billion compared with the corresponding quarter last year. The total assets in banks decreased by 1.5 per cent, while the total assets in insurance companies and finance companies increased by 10.2 per cent and 21.2 per cent respectively during the same period.

Tables

Published tables